Capital One (COF) continues to lead the U.S. credit card industry in outstandings and volume growth, posting a strong 13% year-on-year (YOY) gain in end-of-period (EOP) outstandings and a whopping 18% surge in Purchase Dollar Volume (PDV) for the fourth quarter as other metrics are concerning. As the most U.S. inclusive issuer, COF reported a…
Wells Fargo credit card third quarter outstandings were up 15.3% year-on-year (YOY) to $34.0 billion reflecting new account growth and growth in private label and co-brand outstandings. Purchase Dollar Volume (PDV) grew 12% YOY in 4Q/15. For the Fourth quarter, Wells posted $18.9 billion in PDV, compared to $18.3 billion in prior quarter. The number…
Wirecard Card Solutions is now the card issuer of the new ‘FromMe2You’ Gift Card, offered by the Irish Program Manager The Gift Card Company. This multi-store gift card can be purchased online at www.me2you.ie or in store at participating Topaz stations nationwide and has the backing of over 3,000 of Ireland’s top retail stores to…
Electronic Commerce International (ECI), a registered provider of data security and secure, reliable Visa and MasterCard credit card processing for businesses, unveils ECI Consumer Finance, its new multi-lender, credit based and no-credit based (retail, brick and mortar businesses only) online platform consisting of over twenty lenders. Lenders can be mixed and matched to provide merchants…
WorldRemit customers can now send money instantly to MTN Mobile Money wallets in Rwanda, Uganda and Zambia. The launch follows the signing of a global partnership agreement earlier this year, to enable WorldRemit customers all over the world to send international remittances to MTN’s Mobile Money customers. People in more than 52 countries already use…
Levvel has ankled Jim Van Fleet to be the role of Principal Consultant. Levvel is an IT consulting firm that combines the innovative DNA of a start up with the wisdom, scalability, and process rigor of a Fortune 100 company. Jim Van Fleet, an IT veteran and well-known member of the Charlotte technology community, commented,…
Credit Karma announced has signed up its 50 millionth member, a major milestone that gives the online personal finance platform insight into more than one-fifth of America’s total household debt. Credit Karma’s 50 million-strong member base accounts for 22% of all Americans with a credit profile in the United States, who use the platform to…
The burgeoning service economy is significantly outpacing more traditional industry sectors in its rate of business growth among middle market companies, according to the Middle Market Power Index: Exploring Generational Changes in Middle Market Industries from American Express and Dun & Bradstreet. While manufacturing and wholesale trade continue to remain key industries for middle market…
The ubiquity of Internet-connected mobile devices is reshaping the preferences and expectations of consumers when it comes to acquiring products and services—in every industry. The financial services industry is no exception. Banks, credit unions, and other financial institutions (FIs) are already starting to see decreases in account opening through traditional channels like the branch and…
CardFlash.com Breaking News: USAT (4Q/15): NFCC (Board); and EXPERIAN (SBCS). USAT- USA Technologies has added 20,000 net new connections and achieved revenue of approximately $18 million in the second quarter of fiscal 2016. The resulting increases represent net new connection growth of 66 percent from net new connections added during the same quarter of last…
JCB has inked China CITIC Bank to issue the first JCB virtual cards for online shopping users. CITIC is part of the major state-owned conglomerate CITIC Group. The bank has a nationwide branch network and solid customer base, including the wealthy segment, and is actively expanding its card issuing business. China CITIC Bank has been…
UnionPay and ANZ Bank will jointly announced in Auckland all ANZ ATMs and merchants in New Zealand would be able to accept UnionPay cards. These ATMs and merchants would not only accept UnionPay chip cards, but would also initiate the acceptance of UnionPay QuickPass in New Zealand. ANZ is the largest acquirer in New Zealand.…